Jim VandeHei

That's happening.

And then they don't fully appreciate the value of talent and they lost a lot of talent.

If you went back three or four years ago and wrote down the top 50 people that you and I have to read, maybe 49 of them left.

Yeah.

And they don't have enough talent to back that up.

And these are talent businesses.

And if you're not breaking news, if you're not telling people things they don't know, if you don't have that big investigation, if you don't give people a reason to read, they don't care what your name is.

They don't care that you are draped in glory.

Are you utility to them?

Are you vital to them today?

If you're not, you start to fade.

And I think they had that happening.

They, for whatever reason, had what I would describe as cultural rot.

Mm-hmm.

In that there was – there always just seems to be infighting.

There's us against them.

Part of it is because they're a highly unionized shop.

Part of it is because people, you know, at different times didn't like Fred or didn't like Will.

Like there's just like this tension, which is just – it's odious.

Like I can't imagine operating a company like that.